(a) The Voting Modernization Finance Committee is hereby established for the purpose of authorizing the issuance and sale, pursuant to the State General Obligation Bond Law, of the bonds authorized by this article.

(b) The committee consists of the Controller, the Director of Finance, and the Treasurer, or their designated representatives, all of whom shall serve without compensation, and a majority of whom shall constitute a quorum. The Treasurer shall serve as chairperson of the committee. A majority of the committee may act for the committee.

Terms Used In California Elections Code 19253

  • Bond: means a state general obligation bond issued pursuant to this article adopting the provisions of the State General Obligation Bond Law. See California Elections Code 19252
  • Committee: means the Voting Modernization Finance Committee, established pursuant to Section 19253. See California Elections Code 19252
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Quorum: The number of legislators that must be present to do business.

(c) For purposes of this article, the Voting Modernization Finance Committee is “the committee” as that term is used in the State General Obligation Bond Law.

(Added by renumbering Section 19233 by Stats. 2013, Ch. 602, Sec. 51. (SB 360) Effective January 1, 2014. Note: This section (as originally numbered) was added by Stats. 2001, Ch. 902, and approved in Prop. 41 on March 5, 2002.)

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